Kevin O'Leary projects Bitcoin peak at $150,000 amid price surge

Kevin O'Leary, the man who once called Bitcoin "garbage," has completed what might be the most telegraphed pivot in crypto history. Speaking at the Avalanche Summit in New York on September 18, the O'Leary Ventures chairman announced he's actively buying new digital-asset positions and expects Bitcoin to eventually capture a meaningful slice of institutional portfolios.The $750,000 price target floating around crypto circles represents the upper bound of where Bitcoin could land if institutions treat it the way they treat gold. O'Leary himself is more measured in the near term, projecting a peak of $150,000 as regulatory clarity takes shape. But his broader thesis, that Bitcoin could command 1% to 3% of alternative-asset allocations, implies a market cap expansion that would dwarf today's figures.He pointed to what he considers the key inflection point: a major stock exchange adopting blockchain technology for settlement or trading infrastructure. That kind of institutional endorsement, he argued, would pull the rest of the financial industry along like gravity.He also noted that CEO interest in multiple blockchain platforms is growing, suggesting the future won't be a winner-take-all scenario for any single chain. That said, O'Leary still maintains that Bitcoin and Ethereum together account for roughly 97% of the digital-asset market's total value.For all his enthusiasm, O'Leary kept circling back to one constraint: regulation. He described regulatory clarity as the single most important catalyst for unlocking large-scale institutional capital flows into crypto.The legislative landscape has been mixed. O'Leary referenced the Senate's obstruction of the CLARITY Act as a setback, though he noted more encouraging progress on related tax legislation.His 1% to 3% portfolio allocation thesis depends entirely on this bottleneck clearing. Gold has long occupied a similar slice of institutional alternative-asset portfolios, and O'Leary sees Bitcoin following the same playbook once fund managers have clear rules to operate under.Perhaps the most telling signal from O'Leary's Avalanche Summit appearance was where he's actually putting money. Rather than loading up exclusively on tokens, he's focused on energy infrastructure and mining support services.